ABOUT THIS FUND
UMCX seeks to deliver 200% of the daily performance of United Microelectronics Corporation (NYSE: UMC), through derivatives such as swap agreements and exchange-traded equity futures to create leveraged exposure. UMC is a pure-play semiconductor foundry that provides integrated circuit manufacturing services to fabless semiconductor companies, integrated device manufacturers (IDMs), and system companies worldwide. UMC is headquartered in Hsinchu, Taiwan. The portfolio is rebalanced at the end of each trading day to maintain its targeted leverage level, meaning returns over periods longer than a single day can differ significantly from two times the cumulative return of UMC due to compounding effects. Collateral supporting these derivative positions may be invested in money market instruments, repurchase agreements, or short-term US government securities.